Renowned financial expert and author Robert Kiyosaki projects a significant increase in the value of Bitcoin, predicting it could reach as high as $300,000 by the close of 2024. This latest forecast triples his previous estimate and comes as the cryptocurrency recently peaked at a historic high. Kiyosaki’s optimism aligns with the vision of several Wall Street and cryptocurrency analysts who anticipate Bitcoin to surge past the $100,000 threshold within the next few years.
Tripling Down on Bitcoin’s Potential
Despite falling short of his earlier projection of Bitcoin hitting $100,000 by mid-2021, Kiyosaki remains undeterred in his bullish outlook. The personal finance guru underscores the urgency for investors to actively pursue opportunities in Bitcoin, suggesting that even modest investments could yield substantial returns.
Concurring with Kiyosaki, Tether‘s co-founder William Quigley voiced on CNBC that Bitcoin’s price could indeed soar to $300,000. Quigley’s confidence is fueled by the increased investment from both institutional and retail investors in the cryptocurrency sector.
Market Analysts Weigh In on Bitcoin’s Trajectory
Amidst these optimistic projections, analyst Michael van de Poppe proposes that Bitcoin may be approaching the culmination of its current bullish cycle which began pre-halving. He anticipates that upcoming macroeconomic reports could sway the trend, with Bitcoin potentially hitting $70,000 even as liquidity issues loom.
Institutional interest in Bitcoin remains strong, as indicated by a record $9.6 billion in open interest for CME Bitcoin futures. Overall, the total open interest across all platforms has hit $30.88 billion, reflecting the robust bullish sentiment in the market. As the trading volume wanes temporarily, the price of Bitcoin hovers around $66,097, suggesting a possible consolidation phase before a continuation of the upward trend.